The Texas Bingo License Surety Bond is required by the Texas Lottery Commission, Charitable Bingo Division
The Texas Bingo License Surety Bond states that the bond holder shall comply with the requirements of the Bingo Enabling Act. The bond guarantees that all rules and regulations are followed, including the payment of prizes awarded to the participants as advertised. It also ensures that the licensee will follow any and all rules set forth by the Bingo Advisory Committee under the Charitable Bingo Division.
The Texas Bingo License Surety Bond is required to get any of the following licenses specified in the Bingo Enabling Act:
This bond protects the public and those who do business with the licensee from fraud, deceit, misrepresentation of goods or services, and unlawful acts or omissions during bingo services. This bond does not serve as insurance to the licensee, rather it is crafted to ensure that those who deal with the licensee in any capacity are protected from the bad business practices of the licensee.